News Archive

WTI has largely recovered from April’s sub-$90/bbl forays and settled back in above $95. After a brief May Day (also inventory day) test that saw a single-day drop of $2.43 to a $91.03/bbl...

Gas prices hovers near a two-week high in the $4.15-$4.22/MMbtu range during early trading today as hot weather forecasts supportive of higher electricity usage continues building upon Friday’s...

Helped by heavy pipeline traffic and “solid fee-based results” in its transportation and facilities segments, Plains All American reported Q1 adjusted EBITDA of $739 million, up 57% YOY, implied...

For just the second time ever, the US Department of Energy authorized an LNG terminal to export US-produced LNG to countries not covered by free trade agreements (FTAs) with the US. The...

Cheniere Energy Partners’ Sabine Pass LNG Terminal started service in April 2008 as an import and regasification facility. Its current send-out capacity is 4.0 Bcfd and it has 17 Bcf of storage...

Antero Resources’ Marcellus operations continue to fuel large YOY gains for the Appalachian producer. In Q1, production volumes averaged 383 MMcfed, up 121% sequentially and 14% YOY. Liquids...

Tuscany Energy is acquiring Diaz Resources in an all-stock deal valued at $6.1 million (including working capital deficit of $3.9 million). The combined E&P company will have 2P reserves of 2.5...

Pembina Pipeline said its bought-deal offering of 11.2 million common shares at $30.80 each raised gross proceeds of $345 million. It also sold $200 million principal amount in 4.75% senior...

TC PipeLines will spend $1.05 billion to increase its already diverse portfolio by 33%, buying 45% more of Gas Transmission Northwest and Bison Pipeline from parent TransCanada to bring its ownership...

Foreign oil majors Total and BP joined domestic oil firms Petrobras and OGX among the big winners in Brazil’s two-day licensing round. The country’s first auction since 2008 drew strong interest...

Commercial crude oil inventories in the US fell 0.6 MMbbl in the week ended May 10, according to the US Energy Information Administration (EIA), with crude stocks standing at 394.9 MMbbl, slightly...

The Noble Energy-led group that operates the giant Leviathan and Tamar fields has discovered gas at the Karish-1 well off Israel’s Haifa coast, likely adding to a string of exploration successes in...

In a stock deal that more than triples its net leasehold in the Ante Creek area of west-central Alberta, RMP Energy acquired Montney light oil acreage from Paramount Resources. The deal adds...

Brazilian independent HRT Oil & Gas is carrying out a new exploration campaign for recently acquired Polvo heavy oil field in the Campos Basin. HRT purchased BP’s 60% interest in Polvo earlier...

As the Kurdistan continues to develop its oil resources independently of the Iraqi central government, Turkish state-run oil firm TPAO is the latest foreign player lured to the semi-autonomous...

Midstream has been one of the energy industry’s biggest job creators worldwide, but it claimed a career casualty in Grazyna Piotrowska-Oliwa, dismissed as CEO of Poland’s 72% owned PGNiG just...

Atlas Pipeline Partners confirmed on May 7 that it had completed the $1.0 billion acquisition of private company TEAK Midstream. Immediately following, it announced a private placement of $400...

The US’ largest barge operator Kirby Corp. said that it’s discussing new equipment with “several customers.” CFO David Grzebinski said that growing demand to move crude via barges in the...

• Approach Resources reported that its Q1 Midland-to-Cushing differential of $12.30/bbl has all but evaporated as of early May. Approach expects the differential to drop to $5.00/bbl or less...

Cheniere Energy Partners developed the Freeport LNG terminal in late 2000 on the premise that the costs of developing US natural gas reserves were getting high enough to make the importation of...

• Canacol Energy’s Labrador-2 well in the Llanos Basin of Colombia reached a TD of 10,601 ft (MD). The well encountered 59 ft of net oil pay---48 ft in the Middle and Lower Gacheta reservoirs...

• Partners Dragon Oil and Kuwait Energy are moving forward with plans to drill their first exploration well in Block 9 onshore southern Iraq’s Basra province. The work commitment on the...

• Armada Oil kicked off an enhancement program in Plaquemines and Lafourche Parishes, Louisiana. The program angles to improve current 650 boepd field production by 20%. Planned are reworks of...

• Alta Mesa Holdings appointed Scott Pullen as senior production engineer. He previously served as VP at Mayne & Mertz.• Athlon Energy appointed Bob Gindrat as director of...

• ASX-listed Aus Tex Oil achieved record production in April of 630 boepd, up 14% vs. March and 55% vs. February. The company noted the earlier months production was hampered by weather. Volume...

• Canadian independent midstreamer Gibson Energy received committed customer support for an additional 500,000-bbl crude storage tank at its Hardisty, Alberta terminal, joining another two...

• Japan Petroleum Exploration said it formed Canadian subsidiary JAPEX Montney Ltd. to buy a 10% interest in Malaysian firm Petronas’ Canadian shale gas and LNG projects. Its first buy was...

• Inter Pipeline Fund said its lending syndicate raised its senior unsecured revolving credit facility by 66% to $1.25 billion from $750 million. The facility can go even higher to $1.5 billion...

• Sunoco Logistics launched a binding open season for its proposed Eaglebine Express project, which will reverse and convert the underused MagTex refined line to crude. The proposed line will flow...

• James M. Estey named Chairman of Gibson Energy and James J. Cleary named director, while Andrew W. Ward and Robert M. Tichio resigned.• John R. Colson, founder and executive...